Wayne Greene

From Product Management To Product Leadership

    Danil Lopatkinmembuat kutipan10 bulan yang lalu
    a colleague mentioned to me, the domain of the PM has extended from managing the hardware or physical product, to firmware and software.
    Danil Lopatkinmembuat kutipan10 bulan yang lalu
    Products have life-cycles and lifetimes. H
    Danil Lopatkinmembuat kutipan10 bulan yang lalu
    Products have life-cycles and lifetimes.
    Danil Lopatkinmembuat kutipan10 bulan yang lalu
    Products have life-cycles and lifetimes.
    Mardanmembuat kutipantahun lalu
    Market Definition – Map needs with target markets and analyze the market segments to actively pursue. Ensure that the targeted segments are large enough to support the current and future business of the product.
    Distribution Strategy – Determine which channels best align with your markets’ buying preferences.
    Product Portfolio – Integrate products into a coherent portfolio of products, focused on the market. Manage the portfolio like a “product” (business plan, positioning, buying process, market requirements, and marketing plan).
    Product Roadmap – Illustrate the vision and key phases of deliverables for the product. The roadmap is a plan, not a commitment
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    Any Product Manager who has been assigned the anchor product in an organization will tell you the first day on the job is like being placed in the position of running a small country. There is so much activity across all of the various functions
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    If you are hiring PMs, try to find the ones who have both a strategy and an execution aura. Also try to find the ones who were practitioners in the spaces you are trying to get into. If selling a product to IT people, make sure your PM leader has worked in IT before. Even better, find those who have been to the battle you are about to enter and have returned with their insight.
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    I once had an executive who told me that you can have great strategy, PowerPoints, financial models, and customer/market data to show why your strategy is right, but without top notch execution, you are doomed to failure. Additionally, he mentioned the pithy wisdom that success has many parents while failure is an orphan. You cannot argue with these statements. And, while they are sobering, they should jump start your thinking as a product leader around execution issues
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    Being able to have a “make it addictive” theme in your product roadmap strategy (and invest in it) is one way to move your product portfolio beyond a simple set of ho-hum, but profitable, products.
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    Key to product or service addiction is building an experience that feeds dopamine or endorphin systems
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    There is no special formula for this, but you do need to solve real problems in a novel way and build features up slowly and steadily. It is also quite important to consider and design in-network effects to increase the user to user adoption of the product or service. Branding is important as well, since either your company name or the product name itself will become the cult focus
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    What does it mean for a product or service to have Cult status? Part of the story is a product that is so cool and helps you create such a great user experience that your use of the product makes you feel connected to the community of users. Your use of the product or service makes you participate and espouse the principles of the cult brand as well. In the consumer space, some examples include Southwest Airlines, Trader Joe’s, Inn n Out, Ikea, Apple iPhone, Starbucks and so on. In the software or IT service space, examples include eBay, Google Search, Strava, Force.com, Uber/Lyft, Jira, Twitter, Slack, etc.
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    Its clear that defining success for product portfolio management may be something both process oriented as well as results oriented. Having clear assertions on your product strategy and portfolio planning will go along ways toward keeping the organization aligned and having the extended product teams and micro-teams making the right trade-offs as the investments are spent. Your portfolio management should also have milestones, or review triggers that can get the conversation flowing if something is not happening according to plan
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    The analytical product leader will have a spreadsheet for all of these tradeoffs while the instinctive product leader will know the right balance when he sees it. Either way, have explicit assertions that drive your portfolio management
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    The job of the product leader is to break down that revenue and margin ramp into product-line specific goals, across products and incubated product lines to meet specified goals
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    Looking at time frame first, investing in your product will need a dimension reflective of how long we need to invest to achieve this business result. This thinking is necessary because some investments are short term with short term results; others are short term with longer time frame results. Still other investments build up over a committed time frame and result in larger wins later
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    Oftentimes, the organization will want a set of data and presentation views that are required of the product leaders. My philosophy to feed the machine what it wants. It will enable you to get back to your day-to-day business faster. Don’t fight the machine
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    We live in an agile world. Once your product team identifies the vector or dimension of the maturity model, and you get quality customer feedback (you will undoubtedly be on the first 10-15 sales calls), it will be time to adjust and adapt the model to real life experience. Does that model hunt? Can your customers understand where they are in the maturity model? Are they embarrassed about their lack of maturity? Can your sales team tell a compelling story? Do they seem knowledgeable enough with the material to be credible? There is a proverbial basket full of things to evaluate and adjust in the model
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    Solving the right customer problems – at the right time in your roadmap – is critical to sustained success with the product line
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    The customer maturity model can also be called the customer readiness model
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